Why Visa Stock Just Dropped 4.5%

·2-min read
Why Visa Stock Just Dropped 4.5%

Shares of credit card giant Visa (NYSE: V) had dropped 4.5% as of 10:40 a.m. EDT Wednesday despite the company beating earnings in its fiscal fourth-quarter 2021 earnings report released last night. Heading into Q4, analysts had forecast that Visa would earn $1.54 per share on revenue of $6.5 billion. As it turned out, Visa "beat" on both the top and bottom lines, reporting adjusted profit of $1.62 per share on sales of $6.6 billion --and when calculated according to generally accepted accounting principles (GAAP), profit of $1.65 per share -- but that wasn't good enough for investors.

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting